NeoGenomics, Inc. (NASDAQ:NEO) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.
Several other research analysts also recently weighed in on NEO. BTIG Research downgraded NeoGenomics from a “buy” rating to a “neutral” rating in a report on Monday. Zacks Investment Research raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Saturday, July 29th. ValuEngine raised shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Gabelli assumed coverage on shares of NeoGenomics in a research report on Thursday, August 24th. They set a “buy” rating and a $9.00 price target for the company. Finally, Cantor Fitzgerald set a $11.00 price objective on shares of NeoGenomics and gave the company a “buy” rating in a research report on Saturday, May 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.20.
NeoGenomics (NASDAQ:NEO) opened at 10.59 on Wednesday. NeoGenomics has a 12 month low of $6.90 and a 12 month high of $11.63. The firm’s 50-day moving average price is $9.66 and its 200-day moving average price is $8.49. The stock’s market cap is $840.72 million.
NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, July 25th. The medical research company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The business had revenue of $66.09 million for the quarter, compared to analyst estimates of $62.95 million. NeoGenomics had a positive return on equity of 6.09% and a negative net margin of 2.81%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 EPS. On average, analysts predict that NeoGenomics will post $0.18 earnings per share for the current year.
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In related news, VP Jennifer Balliet sold 10,723 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $8.49, for a total transaction of $91,038.27. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alison L. Hannah acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were acquired at an average price of $9.19 per share, for a total transaction of $183,800.00. Following the purchase, the director now owns 38,782 shares of the company’s stock, valued at $356,406.58. The disclosure for this purchase can be found here. Company insiders own 12.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its stake in shares of NeoGenomics by 57.5% in the second quarter. Royce & Associates LP now owns 955,900 shares of the medical research company’s stock valued at $8,565,000 after purchasing an additional 348,900 shares during the period. Blair William & Co. IL increased its stake in shares of NeoGenomics by 8.1% in the second quarter. Blair William & Co. IL now owns 377,672 shares of the medical research company’s stock valued at $3,384,000 after purchasing an additional 28,213 shares during the period. Cadence Capital Management LLC increased its stake in shares of NeoGenomics by 5.8% in the second quarter. Cadence Capital Management LLC now owns 150,419 shares of the medical research company’s stock valued at $1,348,000 after purchasing an additional 8,241 shares during the period. Falcon Point Capital LLC increased its stake in shares of NeoGenomics by 338.6% in the second quarter. Falcon Point Capital LLC now owns 1,100,474 shares of the medical research company’s stock valued at $9,860,000 after purchasing an additional 849,589 shares during the period. Finally, Spark Investment Management LLC acquired a new stake in shares of NeoGenomics in the first quarter valued at approximately $1,012,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.
NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.
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